Stock Market Crash
Coping With The Mother Of Economic Disasters
By Dr. Gifford JonesSheer chance had me aboard the Holland America Line in the middle of the Pacific Ocean when the stock market crashed with devastating results. If I’d been in Canada I could have cried on my financial advisor’s shoulders while asking why so much hard earned money was going down the drain. And as the news became progressively worse, I wondered if I could even afford a canoe to return to Canada. So how did my psyche cope with this “mother” of all economic disasters? Hopefully, this advice will help others who have seen their finances melt.
One
I knew that unless I could walk on water there was no way of getting off the ship until it reached Honolulu. I concluded that there was no point worrying about a problem I had no way of controlling. Maybe I’d be broke by the time the ship docked, but at least I’d be stuck in Hawaii, where I wouldn’t freeze. So I decided to turn off the daily market news, read books and enjoy the sea.
Two
Luckily, I had purchased a great book prior to departure and it could not have been a better choice or the timing more perfect. The book titled, “Snowball”, was a biography of Warren Buffet, the world’s greatest investor. Its 800 pages are loaded with sound financial advice. But Buffet’s theories apply in many instances to both investments and health. His # 1 rule is to never lose money. Rule # 2 is to never forget rule # 1. I’ve often told readers that medicine’s # 1 rule for a long and healthy life is to follow a sound lifestyle starting early in life. Rule # 2 is also to never forget rule # 1.
Three
Buffet, one of the world’s richest individuals, has continued to live for years in the same modest home in Omaha, Nebraska. Maybe this recession will have at least one healthy result, the realization that it’s possible to enjoy life without having the largest house or the latest electronic gadget. And that it would be prudent to prevent future financial jolts to our psyche by saving money before we buy “things”. It’s not just greedy bankers and real estate brokers who caused this economic mess.
Four
Don’t lose your sense of humour during tough times. Laughter is a great way to decrease stress. Years ago Norman Cousins, editor of the Saturday Review, was stricken with a crippling illness that involved debilitating pain in his joints. He searched in vain for a cure and finally decided to treat himself with laughter. Day after day he watched humourous movies. Eventually his health was restored and it was such a miraculous cure that for years he taught medical students at the University of California the value of laughter. It’s been aptly said that if it were not for laughs we might be sicker than we are. Moreover, no one to my knowledge has ever died from laughter.
Five
Dr. James King, Chairman of the American Academy of Family Physicians, says some patients are now forced to choose between “gas, meals or medication”. Unfortunately this may be a problem for patients who genuinely need life saving drugs. But for others a lack of some medications could help save kidneys and livers from chronic injury. During the last 10 years there’s been a 72 percent increase in the number of filled prescriptions. And much of this medication would serve mankind better if it were tossed into the Pacific Ocean.
Six
During these tough times don’t forget the psychological and physiological benefits of sex. It’s one of the best tranquillizers available. After all, who doesn’t sleep like a baby after sex?
Seven
Lastly, if you can afford it, consider a trip to Hawaii aboard Holland America Line. Looking at the sea for several days, far from civilization, is a great way to relax, free from the turmoil of this world. And if you want to get rich, take “Snowball” along with you. We all know what happens when you roll a snowball down a hill. In Buffet’s case, his keeps picking up money along the way.
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W. Gifford-Jones M.D is the pen name of Dr. Ken Walker graduate of The Harvard Medical School. He’s been a ship’s surgeon, hotel physician and family doctor and later trained in surgery at McGill in Montreal, University of Rochester N.Y. and Harvard. His medical column is published by 60 Canadian newspapers and several in the U.S. He is the author of seven books. Dr. Walker has a medical practice in Toronto. His Web site is: http://www.mydoctor.ca/gifford-jones. He can be reached at:
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